#HAL (Hindustan Aeronautics Ltd) Daily Chart Analysis
🔍 Technical Overview:
1️⃣ The stock is forming an ABC corrective wave structure, nearing the Extended Correction Zone of Wave C around ₹3,697 - ₹3,405.
2️⃣ The 200 SMA (₹3,405) aligns with a strong support level, increasing the likelihood of a bounce.
3️⃣ Immediate resistance levels are at ₹4,209 and ₹4,509, with the target zone around ₹5,080 - ₹5,130 if bullish momentum continues.
🟢 Bullish Scenario:
Support Zone: ₹3,697 - ₹3,405.
A reversal here could trigger a rally toward ₹4,209, with an extended target of ₹5,130 - ₹5,165.
Confirmation: Look for bullish reversal patterns (e.g., hammer or bullish engulfing candle) supported by volume.
🎯 Long Plan:
Entry: ₹3,697 - ₹3,405 (upon bullish confirmation).
Targets:
TP1: ₹4,209.
TP2: ₹5,130 - ₹5,165.
Stop-Loss: Below ₹3,380.
🔴 Bearish Scenario:
If ₹3,405 fails to hold, the next downside targets are ₹3,000 and ₹2,600.
Breakdown Confirmation: A decisive break below ₹3,405 with increased selling pressure.
🎯 Short Plan:
Entry: Below ₹3,405.
Targets:
TP1: ₹3,000.
TP2: ₹2,600.
Stop-Loss: Above ₹3,500.
📈 Key Levels to Watch:
Support: ₹3,830, ₹3,697, ₹3,405.
Resistance: ₹4,209, ₹4,509, ₹5,130.
⚠️ Note: Monitor volume and price action carefully around the Extended Correction Zone. Any major defense sector updates or contracts could impact the stock’s movement.
#HindustanAeronautics #HAL #StockMarket #TradingView #ElliottWave #TechnicalAnalysis #SwingTrading #NSE #StockCharts #PriceAction #DefenseStocks #IndiaMarkets #StockTrading #MarketAnalysis
Comment below if you have questions or insights! 🚀
🔍 Technical Overview:
1️⃣ The stock is forming an ABC corrective wave structure, nearing the Extended Correction Zone of Wave C around ₹3,697 - ₹3,405.
2️⃣ The 200 SMA (₹3,405) aligns with a strong support level, increasing the likelihood of a bounce.
3️⃣ Immediate resistance levels are at ₹4,209 and ₹4,509, with the target zone around ₹5,080 - ₹5,130 if bullish momentum continues.
🟢 Bullish Scenario:
Support Zone: ₹3,697 - ₹3,405.
A reversal here could trigger a rally toward ₹4,209, with an extended target of ₹5,130 - ₹5,165.
Confirmation: Look for bullish reversal patterns (e.g., hammer or bullish engulfing candle) supported by volume.
🎯 Long Plan:
Entry: ₹3,697 - ₹3,405 (upon bullish confirmation).
Targets:
TP1: ₹4,209.
TP2: ₹5,130 - ₹5,165.
Stop-Loss: Below ₹3,380.
🔴 Bearish Scenario:
If ₹3,405 fails to hold, the next downside targets are ₹3,000 and ₹2,600.
Breakdown Confirmation: A decisive break below ₹3,405 with increased selling pressure.
🎯 Short Plan:
Entry: Below ₹3,405.
Targets:
TP1: ₹3,000.
TP2: ₹2,600.
Stop-Loss: Above ₹3,500.
📈 Key Levels to Watch:
Support: ₹3,830, ₹3,697, ₹3,405.
Resistance: ₹4,209, ₹4,509, ₹5,130.
⚠️ Note: Monitor volume and price action carefully around the Extended Correction Zone. Any major defense sector updates or contracts could impact the stock’s movement.
#HindustanAeronautics #HAL #StockMarket #TradingView #ElliottWave #TechnicalAnalysis #SwingTrading #NSE #StockCharts #PriceAction #DefenseStocks #IndiaMarkets #StockTrading #MarketAnalysis
Comment below if you have questions or insights! 🚀
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.